10:06 AM EDT, 09/03/2024 (MT Newswires) -- Dr. Reddy's Laboratories (RDY) said in a regulatory filing Tuesday that China's National Medical Products Administration has issued an order suspending the import, sale, and use of the company's atomoxetine hydrochloride capsules, effective Aug. 30, for failing to meet the country's good manufacturing practice standards.

China's National Drug Joint Procurement Office has also issued an order to put the company on a "violation list", Dr. Reddy's said, adding the move suspends its eligibility to participate in drug procurement activities in the country starting Aug. 30 until Feb. 28, 2026.

Dr. Reddy's said it's in the process of determining the financial impact of the orders.

The company's shares were falling 2% in recent trading.

Price: 81.80, Change: -1.67, Percent Change: -2.00